Outsourcing will be our nation's ruin

The effects of outsourcing are obvious. India and China, for example, are building thousands of new factories and graduating hundreds of thousands of highly qualified engineers every year.

When's the last time you saw a new factory being built around here? Some of this is because of the inflated pay scales in the United States relative to other nations. This often is attributed to fat-cat, profit-lusting American capitalists who want "cheap" labor.

The rapidly deteriorating quality of the American labor pool is usually ignored. Public schools and parents are churning out hedonistic individuals with elevated love of self, depressed skill levels and an inferior work ethic. These are key factors driving manufacturers and technical businesses overseas in search of quality labor. Recently, the CEO of Intel was heard to say that he could grow his business indefinitely, and never hire another American citizen.

Much of the blame for this situation should be directed at those many politicians who have created the "nanny state." By controlling the monetary system (inflation courtesy of the Federal Reserve) and redistributing wealth (via the tax structure) the nanny state has been bred, and is fed.

The nanny state also is built upon a mirage that a society can borrow its way into prosperity. The federal government's debts and liabilities now add up to about $50 trillion. Moreover, because of the monetary manipulations of the Federal Reserve, Americans are lured into the false belief that savings are bad for the economy, and that borrowing and spending lead to economic salvation.

It is with this public-and-private-debt orgy that an illusion is created that we can live comfortably by simply selling (to one another) real estate, stocks, bonds, lattes and massages - while the rest of the world toils to manufacture products for our pleasure.